Chesapeake Utilities Co. (NYSE:CPK) Short Interest Update

Chesapeake Utilities Co. (NYSE:CPK) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 343,200 shares, a decline of 8.0% from the October 15th total of 373,200 shares. Based on an average daily volume of 89,600 shares, the days-to-cover ratio is currently 3.8 days.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays raised their price objective on Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

Institutional Investors Weigh In On Chesapeake Utilities

Several hedge funds and other institutional investors have recently bought and sold shares of CPK. Vanguard Group Inc. boosted its holdings in Chesapeake Utilities by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock valued at $199,471,000 after purchasing an additional 118,878 shares during the last quarter. State Street Corp raised its position in shares of Chesapeake Utilities by 0.9% during the 3rd quarter. State Street Corp now owns 1,222,149 shares of the utilities provider’s stock valued at $152,513,000 after buying an additional 11,068 shares during the period. Copeland Capital Management LLC lifted its holdings in Chesapeake Utilities by 9.5% in the third quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider’s stock valued at $73,567,000 after acquiring an additional 51,164 shares during the last quarter. Geode Capital Management LLC grew its position in Chesapeake Utilities by 1.6% in the third quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider’s stock worth $64,157,000 after acquiring an additional 8,358 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Chesapeake Utilities by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider’s stock valued at $51,979,000 after purchasing an additional 19,100 shares during the period. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK traded down $1.30 during midday trading on Tuesday, hitting $127.98. The company had a trading volume of 16,792 shares, compared to its average volume of 112,716. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. The business’s 50-day simple moving average is $121.83 and its 200-day simple moving average is $115.58. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 26.24 and a beta of 0.61. Chesapeake Utilities has a twelve month low of $90.21 and a twelve month high of $129.54.

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be given a dividend of $0.64 per share. The ex-dividend date is Monday, December 16th. This represents a $2.56 annualized dividend and a dividend yield of 2.00%. Chesapeake Utilities’s payout ratio is 51.93%.

About Chesapeake Utilities

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.